LOS ANGELES—Executives at Walt Disney Co. have discussed bringing animation guru John Lasseter back to the company in a new role that would reduce his managerial power but allow him to retain creative influence, according to a person familiar with the matter.

Those discussions come as the end of Mr. Lasseter’s six-month leave, taken following accusations of unwelcome hugging and other touching, approaches on May 21. So far, Disney has given no indication whether or not Mr. Lasseter will return. It is also possible that Monday...